Bitcoin (BTC) traded just below $65,000 early Thursday after South Korea raised interest rates for the first time in over three years to combat inflation.The Bank of Korea’s 25 basis point hike lifted its benchmark interest rate to 2.75%, matching median estimates from economists polled by Reuters. The bank said in its statement that inflation is projected to remain elevated for some time as the impact of the rise in energy prices feeds through with a time lag.”Korea’s headline inflation jumped to 3.2%, the highest since 2023.Following the rate hike, the Korean won firmed to 1,480 per U.S. dollar, extending an appreciation trend from about 1,560 roughly two weeks ago. Bitcoin traded largely flat against the won, with the BTC/KRW pair hovering above KRW 94.96 million on leading local exchange Upbit. South Korea’s crypto market is widely seen as one of the most speculative in the world, driven by an active retail base that treats digital assets almost like high‑stakes day trading rather than long‑term investment.